The European Bank for Reconstruction and Development (EBRD) has introduced its Youth in Business program in Türkiye, aiming to mobilize up to 250 million euro to support young entrepreneurs under 35, Trend reports via the bank.
Supported by the Turkish government and the European Union, this
initiative aims to facilitate funding, offer technical support, and
mitigate risks via local financial entities, with a particular
emphasis on youth-led micro, small, and medium enterprises.
The program's strategic objective is to allocate 70 percent of
financial resources to the geographies impacted by the seismic
events of February 2023, facilitating the revitalization of
enterprises and safeguarding human capital assets.
Since its inception in 2021 within the Egyptian market, the
initiative has proliferated across 12 economies, successfully
mobilizing in excess of 1 billion euros. Prominent financial
institutions in Türkiye, namely Akbank, Sekerbank, and TEB, have
established themselves as foundational stakeholders in this
initiative.
The EBRD continues to be a significant stakeholder in Türkiye,
having allocated upwards of 22 billion euros since the inception of
its investments in 2009.